REAL ESTATE

Montreal — Simon Property Group, SmartCentres and Calloway REIT hosted a groundbreaking ceremony on Oct. 2 to begin construction of Premium Outlets Montreal, the second Premium Outlet Center in Canada.

New York — Just Salad has leased a 1,434 sq. ft. ground floor space at 325 Hudson Street, a 10-store, 240,000-sq.-ft. building in the heart of New York City’s Hudson Square.

New Street Realty Advisors represented Just Salad in lease negotiations with landlord Jamestown Properties.

Mixed-use development works for trade areas where demand matches each use

Different developers look at mixed-use in different ways. One developer will look for trade areas that provide solid demand for retail, residential, office and perhaps other uses. The goal is to create developments where no single use dominates the others.

Still other developers gauge the demand for various uses and adjust the use offerings to match demand. In such cases, one use may dominate the center.

The Trademark approach to demand

Brooklyn, N.Y. - West Elm, a division of Williams-Sonoma, will open a store in Birmingham, Ala., on Thursday, Oct. 10. The 8,000-sq.-ft. store is located in The Summit Birmingham shopping center.
 

Columbus, Ohio – DSW, Inc. is opening four new stores on Oct. 10. The stores will be located in Muskegon, Mich., Rochester, Minn., Boardman, Ohio, and Knoxville, Tenn.

Customers will be eligible to participate in DSW Rewards, a free loyalty program in which customers earn certificates toward future DSW purchases and receive special member-only offers. Customers can also participate in the Shoe Lover community on Facebook to receive exclusive offers and giveaways.

New York -- Urban Outfitters has purchased 6.5 acres in the Philadelphia suburb of Devon, Pa., on which is plans to build a lifestyle shopping village concept, according to Racked Philly.

The report said that the retailer plans to build a Terrain garden center, an Anthropologie, a boutique hotel, two restaurants, and a specialty foods market, along with such other  possibilities as a health/spa facility.

Rockville, Md. — Divaris Real Estate has announced the sale of a net-leased Jiffy Lube on East Joppa Road in Parkville, Md. The 1,936-sq.-ft. building was purchased for $1,065,000 with a cap rate of 10%. Divaris handled the sale on behalf of but the buyer, Jiffy Joppa, and the seller, DLS Exchange Corp.

Purchase, N.Y. — The March of Dimes Greater N.Y. Chapter and the Real Estate Award Breakfast Committee have named National Realty & Development Corp. as the 2013 Real Estate Award recipient.

This year marks the 26th annual Real Estate Award Breakfast and the 75th aAnniversary of the March of Dimes. The breakfast will be held November 14 at the Renaissance Westchester Hotel in White Plains.